Morgan Stanley intends to price trigger PLUS linked to S&P, Russell

By Devika Patel

Knoxville, Tenn., April 11 – Morgan Stanley Finance LLC plans to price 0% trigger Performance Leveraged Upside Securities due May 3, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the final level of each index is greater than its initial level, the payout at maturity will be par plus 400% of the return of the worse performing index, subject to a maximum payout that is expected to fall between $1,640 and $1,690 per $1,000 of notes and will be set at pricing.

If either index declines but both indexes finish at or above the 60% trigger level, the payout will be par.

Otherwise, investors will lose 1% for each 1% decline of the worse performing index from its initial level.

Morgan Stanley & Co. LLC is the agent.

The notes (Cusip: 61768D4Q5) will price on April 30 and settle on May 3.

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